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Describe How Local Communities React to Global Forces Influencing and Mingling

question 61

Essay

Describe how local communities react to global forces influencing and mingling with local cultures. Support your description with an example from the class.


Definitions:

Parity

A concept of economic equality or equivalence, such as between currencies or in the income levels between groups.

Price Supports

Government interventions to maintain the market price of a commodity or product at a certain level, often to protect producers from market fluctuations.

Marketing Loan Program

A federal farm subsidy under which certain farmers can receive a loan (on a per-unit-of-output basis) to plant a crop and then, depending on the harvest price of the crop, either pay back the loan with interest or keep the loan proceeds while forfeiting their harvested crop to the lender.

Loan Price

The total financial cost of borrowing, including interest rates and any additional fees charged by the lender.

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